Friday, 7 May 2010

Pound slumps and stock market dives as investors fret over hung parliament

Daily Mail
"London's leading shares were hit by another sell-off today as the uncertainty of a hung Parliament and the Greek debt crisis sent investors rushing for the exits.The FTSE 100 slumped more than 1 per cent to its lowest level since February as trading screens turned red across the City.The share fall followed a 2 per cent slide for the pound against the dollar to $1.46 as investors fretted over delays in tackling the UK's huge deficit."
"Strikingly, Moody's credit agency placed Britain alongside the eurozone’s so-called ‘PIIGS’ – Portugal, Ireland, Italy, Greece and Spain – in an analysis of ‘sovereign contagion risk’."

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